The inflation rate of the prices of basic goods and services in the Philippines jumped to a nine-year high of 6.4 percent, according to the Philippine Statistics Authority. It exceeded the Bangko Sentral ng Pilipinas’ and the Department of Finance’s projection of 5.9 percent and 5.8 percent, respectively.

“The President’s economic team continues to monitor inflation with vigilance as government takes action to assist the poor while keeping the macroeconomy stable,” Roque said.

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